The World Economic Forum [WEF] will cooperate with more than 40 central banks, international organizations, researchers and financial institutions at its annual meeting [commonly known as Davos] on January 22 [local time], and the central bank will become a legal digital currency [CBDC] has announced that it has created a framework to support its evaluation, design, and publishing.

From Cambodia, which is piloting a pilot version of the CBDC, to the Bank of Japan, which is working on digital currency joint research with central banks in Europe and Canada, CBDC issuance is accelerating around the world.

According to the WEF, "CBDC has been attracting attention as a means to realize financial inclusion and settlement efficiency, but since the movement of the central bank may affect the market, much research and experiments have been done. Is being held behind closed doors. " A toolkit was developed with the help of blockchain experts so that policymakers within the central bank could confidently evaluate the suitability of the CBDC for the economy and consider the design and implementation process.

According to the WEF, the toolkit provides guidance and information that can be used according to the circumstances of each country from large to small countries, and from developed countries to emerging countries. An information guide including a worksheet and research reference is also included.

"The implementation of the CBDC is complex and has far-reaching implications. We need to analyze and look forward to the toolkit as a starting point for central bank research and development. "

More information can be found on the WEF site in the article Central Banks in the Age of Blockchain.


editor

Shane is an economics and mathematics double major with a keen eye for the financial world. His understanding of the current economic model of different countries is enlightening and he aims to bring that impressive knowledge and experience into his writing. He is currently exploring writing about different genres within the entertainment, business and cryptocurrency sphere and aims to bring diversity in his writing.

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